Service tax applicability
This query is : Resolved
20 October 2011
We are the Chartered Accountant Firm. In FY 2010-11 I receipt fee for Rs.1305000/-and I pay the Service Tax on Rs.305000/- Now the my question is in FY 2011-12 suppose I receipt Professional Fees for Rs. 1435000/-then what is the service tax applicability? We are not issue Professional Fees Bill till 10/10/2011 and we Receipt Professional Fees Rs.6000/- in May-2011. We can take Rs. 10 lakhs exemption in FY 2011-12. Kindly give the suggestion.
Thanking You.
(Nathuram Kadam)
Thanking You.
(Nathuram Kadam)
25 October 2011
No you cannot take small service provider exepmtion of Rs. 10 lacs in the year 2011-12. You will have to pay Service tax from the very first day,
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